With market rate residential development firing on all cylinders in both Koreatown and Downtown Los Angeles, the formerly posh community of Westlake is beginning to catch spillover.
Last week, plans were filed with the City of Los Angeles to construct a new residential-retail complexone block south of MacArthur Park. The mixed-use development, slated for a .93-acre site at 8th Street and Park View Avenue, would consist of a five-story building featuring 144 residential units, approximately 4,400 square feet of ground-floor commercial space and a 167-car parking garage.
Records from the Los Angeles Department of City Planning list the project's developer as Pacific Parkview, a limited liability corporation linked to SAFCO Capital Corporation. SAFCO, a Los Angeles-based real estate firm, specializes in the construction and operation of suburban shopping centers.
A timeline for the proposed development is currently unclear.
- ENV-2015-3287-EAF (LADCP)